Toucan is a digital service for banks to protect their ﬁnancially vulnerable customers by providing tools for carers that are in line with new emerging regulations.
Toucan is building innovative digital services for banks to protect their financially vulnerable customers by providing tools for carers in line with new regulations. New FCA guidelines are tackling the huge and growing problem of how carers can safely support a loved one with their finances. But the banks aren't ready.
Over six million people in the UK are made financially vulnerable by health problems such as dementia, while 60% of adults will take a role of a carer at some point. Taking on responsibility for a loved one’s finances is risky and burdensome, with the majority sharing their online banking credentials, breaking the bank’s T&Cs and opening themselves up to fraud.
To solve this problem, Toucan uses open banking to create a suite of tools for carers to safely and flexibly manage money on behalf of someone else.
Toucan is made up of three founders with pedigrees from Monzo, MarketInvoice and Funding Options. To date the company has been funded by equity-free grants from Nationwide Building Society and Nesta, and now their focus is on winning commercial partnerships with banks, driven by the regulatory catalyst.
- Bailey Kursar - CEO
- Emily Trent - COO
- Evelina Vrabie - CTO
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